TELEFÔNICA BRASIL S.A. The Board of Telefônica Brasil S.A. ("Company") announces to its shareholders, as approved at its meeting held on May 9, 2017, that will start the payment of Interim Dividends and Interest on Own Capital ("IOC") for the fiscal year of 2016, as follows:
August 22, 2017: the Company will start the payment of amounts related to IOC deliberated and published through Notices to Shareholders on the dates of the Meetings of the Board of Directors held on February 19, 2016, March 18, 2016, April 18, 2016, June 17, 2016 and September 19, 2016. Such proceeds were ratified and approved by the General Shareholders' Meeting held on April 26, 2017 ("GSM"), as follows:
Proceeds
Deliberation Date
Record Date
Gross Amount per Share (R$)
Net Amount per Share (R$)
ON
PN*
ON
PN*
IOC
02/19/2016
02/29/2016
0.11107235782
0.12217959361
0.09441150415
0.10385265457
IOC
03/18/2016
03/31/2016
0.18715692294
0.20587261524
0.15908338450
0.17499172295
IOC
04/18/2016
04/29/2016
0.12217959361
0.13439755297
0.10385265457
0.11423792003
IOC
06/17/2016
06/30/2016
0.08941324805
0.09835457285
0.07600126084
0.08360138692
IOC
09/19/2016
09/30/2016
0.36098516294
0.39708367924
0.30683738850
0.33752112735
(*) 10% higher than the amount granted to each common share, in accordance with article 7 of the Company's Bylaws.
In accordance to the articles 28 of the Company's Bylaws, such Interest on Own Capital were charged to the mandatory minimum dividend for the fiscal year of 2016, ad referendum of the General Shareholders' Meeting.
December 13, 2017: the Company will start the payment of amounts related to IOC deliberated and published through Notice to Shareholders on the date of the Meeting of the Board of Directors held on December 19, 2016, and Dividends declared at the GSM. Such proceeds were ratified and approved by the GSM, as follows:
Proceeds
Deliberation Date
Record Date
Gross Amount per Share (R$)
Net Amount per Share (R$)
ON
PN*
ON
PN*
IOC
12/19/2016
12/30/2016
0.33551896714
0.36907086385
0.28519112207
0.31371023427
Dividends
04/26/2017
04/26/2017
1.06295487663
1.16925036430
1.06295487663
1.16925036430
(*) 10% higher than the amount granted to each common share, in accordance with article 7 of the Company's Bylaws.
In accordance to the articles 27 and 28 of the Company's Bylaws, such Dividends and Interest on Own Capital were charged to the mandatory minimum dividend for the fiscal year of 2016, ad referendum of the General Shareholders' Meeting.
WITHHOLDING INCOME TAX, ACCORDING TO CURRENT LEGISLATION 1 - Interest on Own Capital
An income tax of 15% is withheld at the source when paying Interest on Own Capital. No income tax will be withheld in the case of immune or exempt legal entities that provide proof of such condition within the established deadline.
2 - Dividends
Dividends are exempt from Income Tax Withholding, according to the Law 9,249/95.
ADDITIONAL INFORMATION:
Dividends not claimed within the period of 03 (three) years after the date of the payment beginning will be forfeited in favor of the Company (Law 6,404 of December 15, 1976, Article 287, II, a).
São Paulo, May 9, 2017.
David Melcon Sanchez-Friera CFO and Investor Relations Officer Telefônica Brasil - Investor RelationsTel: +55 11 3430-3687
Email: ir.br@telefonica.com Information available at: www.telefonica.com.br/ir
Telefônica Brasil SA published this content on 09 May 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 09 May 2017 20:35:19 UTC.
Original documenthttp://telefonica.mediagroup.com.br/en/Download/1513_Notice_to_the_Shareholders_-_Deliberation_of_Interest_on_Own_Capital_03_20_2017.pdf
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